Bloomberg, Walcott Raise $1.5 Million In Funds To Reinstate New York Regents Exam

Students across New York will once again be offered the state regents exam this coming January.

Mayor Michael Bloomberg and Schools Chancellor Dennis Walcott announced today that they have raised $1.5 million in private donations that would fund the New York State Education Department Regents Exam's January administration, which was canceled in May to account for an $8 million state testing budget deficit.

The exams each year allow thousands of students in New York City alone the chance to graduate early, make up failed tests or get necessary future testing out of the way. Last year, almost 2,400 of the 3,454 students who graduated from New York City Schools earned their diplomas after taking the January exam, according to the New York City Department of Education.

Those who relied on the January exam administration are some of the most vulnerable students in the city -- such as those who returned to the classroom after dropping out or are English language learners. Also in that same pool, 80 percent were black and Hispanic.